secwatch.observer — SEC 8-K summary
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Issuer:     ALLEGRO MICROSYSTEMS, INC. (ALGM)
CIK:        0000866291
Form:       8-K
Filed at:   2024-09-24T23:59:59+00:00
Accession:  0000950170-24-109070
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Allegro completes Polar Semiconductor recapitalization, retains ~10.2% stake
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- Allegro contributed Polar equity and discharged ~$6.6M debt for ~10.2% ownership in Polar Parent.
- PS Investment Aggregator made $175M capital contributions to Polar in exchange for equity.
- Director Paul Carl 'Chip' Schorr IV resigned from board effective Sept 20, 2024; not due to disagreement.
- Sanken Electric remains largest ALGM stockholder (~32.5%); its director Katsumi Kawashima sits on Allegro board.
- New limited partnership agreement grants Allegro participation, approval, and information rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866291/000095017024109070/0000950170-24-109070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866291/000095017024109070/algm-20240920.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-109070

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer